Domain

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An area of needs for a family of wealth relating to their family enterprise and/or life with wealth. Also, a professional area of discipline focusing on a particular area of expertise and services.

The Ten Domains of Family Wealth model of the UHNW Institute offers a comprehensive framework for understanding the issues and needs facing UHNW families.  Each domain represents a closely aligned set of needs for which a family will require attention, services, and support over the lifetime of family members. Each domain also represents a specialized knowledge base and set of skills required by experienced professionals to assist with those needs.

The domains might be thought of as akin to primary colors with relatively pure characteristics. However, most real-world activities and topics that arise for families and service providers are a blend that draws from multiple domains, i.e., they are cross-domain topics. For example, issues related to mental incapacity in an elderly family leader with dementia may draw upon domains involving health, legal, family dynamics, financial, risk, governance, and leadership elements.

The Ten Domains of Family Wealth include the following:

 

See Also: The Ten Domains of Family Wealth

The UHNW Institute. Our thinking, December 15, 2022. https://www.uhnwinstitute.org/our-thinking/

Want to Contribute to the Wealthesaurus?

  • Check that the term (or a synonym) is not in the Wealthesaurus already
  • Email a description of your suggested term, a one- or two-sentence draft of its proposed definition, and a brief explanation of its usage or background (300 word maximum) to librarian@uhnwinstitute.org
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      The UHNW Institute. “Wealthesaurus: a Glossary of Family Wealth Advising Terms,” 2024.                                                    https://glossary.uhnwinstitute.org/

Remember that the Wealthesaurus is only currently available to Institute members, so the public will not be able to look at the source citation. Eventually if the Wealthesaurus is publicly available on the web, others may be able to use the glossary.

Welcome to the Wealthesaurus*

A Glossary of Family Wealth Advising Terms

*pronounced: well-thuh-SAWR’-uhs

The Wealthesaurus provides standardized definitions of common and specialized family wealth advising industry terms. By sharing this glossary, we hope to improve communication across the UHNW community.

How to Use the Wealthesaurus

  • Browse terms by first letter in the alphabet menu or by scrolling down the list. You may also enter a term in the search box to see if it is present.
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For more information on general topics related to finance, law, or investments, see also:
 

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© The UHNW Institute 2024

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Mission:
  • Provide an intellectual framework, understanding and organization of family wealth management content
  • Educate advisors and family offices on how best to support evolving UHNW families
  • Provide thought leadership, insights and resources to advisors and family offices
  • Promote best practices, provide professional development and support sustainable, positive change within our industry
  • Foster an equitable, collaborative and safe learning environment within the wealth management industry